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Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
 STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks to expand its capacity to supply fuel to a fast-growing Asian market.
The hostile bid follows an earlier offer from St. Louis-based Peabody that was likewise turned down by Macarthur's board.
"Peabody's proposal is highly conditional and does not fully value Macarthur and its significant growth prospects," Macarthur Chairman Keith DeLacy said Wednesday in a statement.
Peabody, the world's largest private-sector coal company, has rapidly expanded operations in Australia since buying its first mine there six years ago. Last year, the company said it plans to double coal exports from the country by 2014.
The company on Wednesday said it is "disappointed" with the initial rejection and believes Macarthur's assets and growth prospects are a good fit with its existing Australian operations.
Brisbane-based Macarthur produced about 4.6 million tons of so-called metallurgical coal last year from two Queensland mines and is in the midst of an expansion. The company, which owns 145 million tons of reserves, supplies coal to steel mills in Asia, Europe and Brazil.
Peabody's offer values Macarthur at about $680 per ton of production and $21 per ton of reserves, according to Jefferies & Co. analyst Michael Dudas.
"We believe the initial bid is the first step in a long, complex negotiating process involving numerous players in the coal and steel industry," Dudas said in a research note.
Peabody said it is currently in discussions with Macarthur's three largest shareholders, who collectively own 47 percent of the company.
Peabody said its offer is conditional on Macarthur calling off an earlier agreement to purchase rival Gloucester Coal Ltd., which is 88-percent owned by Asian commodities firm Noble Group Ltd.
Macarthur is holding a meeting on April 12 for shareholders to vote on whether to issue shares to complete the Gloucester deal.
Peabody said its bid is 34 percent higher than the price of Macarthur shares to be issued to Noble as part of the Gloucester agreement. It is also higher than a February valuation by an independent expert hired by Macarthur, Peabody said.
Source: ST. LOUIS POST-DISPATCH (By: BY Jeffrey Tomich)
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Tuesday, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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